BUSINESS
Issue price of sovereign gold bonds scheme 2022-23 (Series-IV) notified
The scheme will open for subscription between March 6-10, while the settlement date would be March 14, official sources said. The government, in consultation with the Reserve Bank of India, has decided to allow a discount of Rs 50 per gram from the issue price to those investors who apply online and the payment is made through digital mode.
Pakistani rupee gains strong recovery after big fall against US dollar
The US dollar closed at 285.09 rupees on Thursday. On the last working day of the week, the local currency appreciated by 6.63 rupees, or 2.38 per cent, against the US dollar, official figures showed on Friday as quoted by Xinhua news agency report. Talking to Xinhua, Rehan Ateeq, Head of treasury with Silk Bank, a Pakistani commercial bank.
Foxconn Group announces investment project in Karnataka
Land of 300 acres for the project has been identified near the Bengaluru International Airport, in Doddaballapura and Devanahalli taluks. A Foxconn team, led by CEO and Chairman Young Liu, and comprising 16 senior leaders reached Bengaluru on Friday and were welcomed at the airport by IT and BT, Science and Technology, and Skill Development Minister C.N. Ashwath Narayan.
Pakistan expects $1.3 bn in financing from China's ICBC in coming days
"All our formalities with the ICBC are complete as of last night. We returned them $1.3 billion in the last few months... They are giving it back and have renewed this facility," Dar said, adding that it is possible that $500 million will come in the next few days -- by Monday or Tuesday -- and a further $500 million within 10 days, Dawn reported.
SC junks Vijay Mallya's plea challenging proceedings to declare him a fugitive
Counsel, representing Mallya, contended before the court that he was not receiving any instructions from him in the matter. A bench of Justices Abhay S. Oka and Rajesh Bindal said counsel for the petitioner states that Mallya is not giving any instructions. "In view of this statement, the petition is dismissed for non-prosecution," said the bench.
India's forex reserves fall to 3 month low of $560.94 billion
According to RBI's weekly forex data released on Friday, this was the fourth straight week when the country's foreign exchange reserves fell. The reserves fell by $330 million during the period under review. The RBI normally intervenes to prevent fluctuations in rupee's exchange rate against the dollar in the spot and forwards markets.
SC extends stay on order quashing write-off of Yes Bank's AT1 bonds
Solicitor General Tushar Mehta, representing the RBI, and senior advocate Kapil Sibal, representing Yes Bank, made submissions before a bench headed by Chief Justice D.Y. Chandrachud. After hearing their submissions, the bench, also comprising P.S. Narasimha and J.B. Pardiwala, extended a stay on the high court order quashing the decision of writing off AT-1 bonds.
Deepinder Goyal buys Rs 4.3 cr Ferrari Rama as Zomato losses widen
The Ferrari Roma is in the same red colour as the Zomato logo. Goyal also owns a Lamborghini Urus and a Porsche 911 Carrera S. His love for fancy and expensive cars continues as the food-tech giant's consolidated loss widened to Rs 346.6 crore as against a loss of Rs 63 crore in the year-ago period.
RBI imposes monetary penalty of Rs 3.06cr on Amazon Pay (India)
In a statement on Friday, the RBI said: "The Reserve Bank of India (RBI) has imposed monetary penalty of Rs 3,06,66,000 on Amazon Pay (India) Private Limited for non-compliance with certain provisions of the Master Directions on Prepaid Payment Instruments (PPIs) and the Master Direction - Know Your Customer (KYC) Direction, 2016 dated February 25, 2016."
Adani group impact: Indian stock markets up, Sensex gains 899 points
Curiously, experts attribute the current rebound and the earlier fall to the happenings in the Adani Group. The Sensex opened at 59,241.20 points (Thursday closing was 58,909.35 points) and touched a high of 59,967.04 points and a low of 59,231.58 points. The Sensex closed at 59,808.97 points, a gain of 899.62 points.
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